- Summary
- Dubai airport targets 28 mln passengers this year
- Abu Dhabi opens up free COVID-19 vaccines to tourists
- Qatar to tap debt markets only on 'opportunistic' basis in 2021
June 22 (Reuters) - Major stock markets in the Gulf ended higher on Tuesday, supported by their financial stocks, with the Abu Dhabi index leading the gains.
Saudi Arabia's benchmark index (.TASI) added 0.3%, with Saudi National Bank (1180.SE) rising 2.5% and petrochemical maker Saudi Basic Industries (2010.SE) strengthening 0.7%.
Yemen's warring parties are thrashing out terms for a peace deal that would extricate the kingdom from a costly war and help alleviate a devastating humanitarian crisis, Reuters reported, citing two sources close to the talks and a Houthi official. read more
One of the sources said Riyadh was open to a deal but "would need some additional guarantees from Oman and Iran", both with close ties with the Houthis.
Dubai's main share index (.TASI) closed 0.3% higher, supported by a 1.2% rise in blue-chip developer Emaar Properties (EMAR.DU) and a 1.5% increase in its unit Emaar Malls (EMAA.DU) .
Dubai's state airport operator is hoping for a "flood" of travellers as the pandemic eases, targeting passenger traffic through Dubai International Airport to grow 8% to 28 million this year. read more
"As infection rates in the region remain stable, Dubai announced the opening of its airport terminals this week in a sign of easing of covid-related restrictions," said Michael Stark, research analyst at Exness.
"The move should help the aviation sector get back on track and boost the economy."
In Abu Dhabi, the index (.ADI) gained 0.5%, with the country's largest lender First Abu Dhabi Bank (FAB.AD) rising 1% and aquaculture firm International Holding (IHC.AD) concluding 0.8% higher.
Abu Dhabi, the capital of the United Arab Emirates, is offering tourists free COVID-19 vaccinations that were previously restricted to UAE citizens and residency visa holders. read more
The Qatari index (.QSI) was up 0.3%, bolstered by a 6.9% jump in telecom firm Ooredoo (ORDS.QA) .
Qatar will tap the debt market only on an "opportunistic" basis this year after a surge in energy prices reduced the budget financing needs of the gas-rich Gulf state, the acting minister of finance said. read more
Outside the Gulf, Egypt's blue-chip (.EGX30) advanced 1.4%, as most of the stocks on the index were in positive territory including its top lender Commercial International Bank (COMI.CA) , which was up 1.6%.
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